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Wednesday, 27 April 2016

SENSEX ENDS 57 PTS UP AHEAD OF F&O EXPIRY,

The S&P BSE Sensex closes
marginally higher as investors stayed cautious ahead of the US and Japanese
central bank policy decisions, while private sector lender Axis Bank Ltd fell
on expectations of more bad loans in fiscal year 2017. Regional markets are
also cautious, with Asian stocks mostly declining. Sentiment at home remains
muted ahead of the expiry of derivative contracts on Thursday. The Sensex ended up 56.points or
0.2 percent at 26064.12, and the Nifty was up 17.25 points or 0.2
percent at 7979.90. About 1274 shares have advanced, 1281 shares declined,
and 193 shares are unchanged. Bharti Airtel shares jumped as much as 6 per cent
on Wednesday ahead of its fourth quarter earnings announcement
today. Bharti Airtel, India's biggest telecom operator, is likely to post
13 per cent sequential jump in its net profit at Rs 1,263 crore, while its
revenue is seen growing 3 per cent to Rs 24,711 crore in the March quarter, The
stock markets turned flat as selling in banking shares picked up pace. Economic stability in developed
countries will fuel growth in the IT services sector benefiting Indian
companies, which will see revenue growth, stabilise at around 13 %. Some buying
activity is seen in oil and gas, telecom, energy, FMCG, industrial,
consumer durables and realty sector, while power, utilities, pharma, banking
and finance showing weakness on BSE. A total of 28 stocks registered a fresh
52-week high in trades today, while 11 stocks touched a new 52-week low on the
NSE. The rupee depreciated 3 paise to 66.55 against the US dollar in early
trade on Wednesday ahead of the outcome of two-day Fed policy meet later in the
day. PSU banking shares witness selling pressure, Nifty PSU index falls 0.88
per cent; State Bank of India, Syndicate Bank, Indian Overseas Bank, Canara
Bank, Bank of India, Oriental Bank of Commerce, Andhra Bank and Bank of Baroda
were among the losers.